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Gulf Air cuts losses by 33%

Abu Dhabi - Gulf Air witnessed a 15.4 per cent rise in total revenue passengers, over the course of the year.

Gulf Air has posted its strongest financial performance in a decade in 2014 as the national airline of Bahrain managed its annual losses from BD93.3 million in 2013 to BD62.7 million in 2014 - a 32.8 per cent reduction.
The airline continued to strategically shift from low-value transit traffic through Bahrain to high-yield, high-demand, point-to-point routes focused largely on the Mena region while, in tandem, better utilising its existing assets to push the business forward.
Gulf Air witnessed a 15.4 per cent rise in total revenue passengers, over the course of the year.
Shaikh Khalid bin Abdulla Al Khalifa, Deputy Prime Minister and Chairman of Gulf Air, said: "Gulf Air's performance reflects a steady and continued improvement in its financial and operational business with targeted efforts to maintaining the airline's strategic direction that ultimately encouraged solid customer growth, enhanced global bookings and a resultant marked improvement in financial and operational results."
On the network front, 2014 saw Gulf Air maintain its leadership position in the Middle East by operating one of the largest regional networks while balancing its regional stronghold with strategic global links extending to 41 destinations by the end of 2014.
- haseeb@khaleejtimes.com